President Vladimir Putin says "no self-respecting country ... ever decides anything under pressure". Photo: AP PHOTO

Russian President Vladimir Putin remains defiant after US President Donald Trump hit Russia's two biggest oil companies with sanctions to pressure the Kremlin leader to end the war in Ukraine, a move that pushed global oil prices up five per cent.

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The US sanctions prompted Chinese state oil majors to suspend Russian oil purchases in the short term, trade sources told Reuters. Refiners in India, the largest buyer of seaborne Russian oil, are set to sharply cut their cr

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